ESAB Corporation(ESAB)Earnings, Financials & Key Ratios

ESAB•NYSE

$101.53

$6.19B mkt cap·27.3× P/E·Price updated May 6, 2026

SectorIndustrials IndustryMetal Fabrication Sub-IndustryFabrication, machining and tooling

AboutESAB Corporation formulates, develops, manufactures, and supplies consumable products and equipment for use in cutting, joining, and automated welding, as well as gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables, including electrodes, nozzles, shields, and tips. The company's fabrication technology equipment ranges from portable welding machines to large customized automated cutting and welding systems. It also offers a range of digital software and solutions to help its customers increase their productivity, remotely monitor their welding operations, and digitize their documentation. The company sells its products under the ESAB brand to various end markets, including general industry, construction, infrastructure, transportation, energy, renewable energy, and medical and life sciences. It offers its products through independent distributors and direct salespeople. ESAB Corporation was incorporated in 2021 and is based in Wilmington, Delaware.Show more

Revenue$2.84B+3.7%
EBITDA$576M+12.0%
Net Income$227M-14.4%
EPS (Diluted)3.72-13.7%
Gross Margin35.54%-6.1%
EBITDA Margin20.26%+8.0%
Operating Margin17.3%+6.0%
Net Margin7.98%-17.4%
ROE11.28%-26.4%
ROIC11.93%-4.2%
Debt/Equity0.65+0.7%
Interest Coverage6.20-10.1%

Technical→

ESAB Price & Volume

ESAB Corporation (ESAB) stock price & volume — 10-year historical chart

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ESAB Growth Metrics

ESAB Corporation (ESAB) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years7.83%

3 Years3.1%

TTM3.71%

Profit CAGR

10 Years-

5 Years7.57%

3 Years0.45%

TTM-14.38%

EPS CAGR

10 Years-

5 Years7.26%

3 Years0%

TTM-16.13%

Return on Capital

10 Years10.86%

5 Years12.17%

3 Years13.12%

Last Year13.11%

ESAB Recent Earnings

ESAB Corporation (ESAB) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)

Q1 2026Latest

Feb 20, 2026

EPS

$1.35

Est $1.34

+0.7%

Revenue

$688M

Est $688M

-0.0%

Q4 2025

Oct 29, 2025

EPS

$1.32

Est $1.27

+3.9%

Revenue

$728M

Est $708M

+2.9%

Q3 2025

Aug 6, 2025

EPS

$1.36

Est $1.34

+1.5%

Revenue

$716M

Est $666M

+7.5%

Q2 2025

May 1, 2025

EPS

$1.25

Est $1.18

+5.9%

Revenue

$678M

Est $657M

+3.2%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 20, 2026	$1.35vs $1.34+0.7%	$688Mvs $688M-0.0%
Q4 2025	Oct 29, 2025	$1.32vs $1.27+3.9%	$728Mvs $708M+2.9%
Q3 2025	Aug 6, 2025	$1.36vs $1.34+1.5%	$716Mvs $666M+7.5%
Q2 2025	May 1, 2025	$1.25vs $1.18+5.9%	$678Mvs $657M+3.2%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
ITWIllinois Tool Works Inc.Direct Competitor	75.08B	260.52	24.84	0.92%	19.32%	97.35%	2.78
LINLinde plcDirect Competitor	232.56B	501.87	34.40	2.97%	20.56%	17.82%	0.68
GTLSChart Industries, Inc.Direct Competitor	9.94B	207.76	629.58	2.49%	0.95%	1.2%	1.11
RBCRBC Bearings IncorporatedDirect Competitor	20.38B	623.13	80.93	4.87%	15%	8.24%	0.34
LIILennox International Inc.Product Competitor	18.84B	541.37	24.36	-2.73%	14.89%	72.05%	1.77
AIXIXiao-I CorporationProduct Competitor	7.9M	0.75	-0.47	18.84%	-45.89%
HLIOHelios Technologies, Inc.Product Competitor	2.31B	69.81	48.14	4.11%	5.78%	5.33%	0.12
NNBRNN, Inc.Product Competitor	126.48M	2.52	-2.36	-9.06%	-8.03%	-28.43%	1.44

Compare ESAB vs Peers

ESAB Corporation (ESAB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ITW

Most directly comparable listed peer for ESAB.

Scale Benchmark

vs LIN

Larger-name benchmark to compare ESAB against a more recognizable public peer.

Peer Set

Compare Top 5

vs ITW, LIN, GTLS, RBC

ESAB Income Statement

ESAB Corporation (ESAB) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Sales/Revenue	2.25B	1.95B	2.43B	2.59B	2.77B	2.74B	2.84B
Revenue Growth %	-	-13.22%	24.51%	6.81%	6.99%	-1.22%	3.71%
Cost of Goods Sold	1.45B	1.27B	1.59B	1.71B	1.76B	1.7B	1.83B
COGS % of Revenue	64.56%	65%	65.49%	65.86%	63.39%	62.15%	64.46%
Gross Profit	796.44M▲ 0%	682.47M▼ 14.3%	837.98M▲ 22.8%	885.53M▲ 5.7%	1.02B▲ 14.7%	1.04B▲ 2.1%	1.01B▼ 2.6%
Gross Margin %	35.44%	35%	34.51%	34.14%	36.61%	37.85%	35.54%
Gross Profit Growth %	-	-14.31%	22.79%	5.67%	14.71%	2.14%	-2.62%
Operating Expenses	540.36M	480.34M	531.77M	556.47M	611.59M	590M	518.44M
OpEx % of Revenue	24.05%	24.63%	21.9%	21.46%	22.04%	21.53%	18.24%
Selling, General & Admin	444.48M	381.32M	425.95M	443.63M	497.59M	497.44M	608.42M
SG&A % of Revenue	19.78%	19.55%	17.54%	17.11%	17.93%	18.15%	21.4%
Research & Development	32.2M	34.8M	39.7M	36M	38.8M	39.2M	44M
R&D % of Revenue	1.43%	1.78%	1.64%	1.39%	1.4%	1.43%	1.55%
Other Operating Expenses	63.68M	64.22M	66.11M	76.84M	75.2M	53.36M	-133.97M
Operating Income	256.08M▲ 0%	202.13M▼ 21.1%	306.21M▲ 51.5%	329.06M▲ 7.5%	404.17M▲ 22.8%	447.45M▲ 10.7%	491.8M▲ 9.9%
Operating Margin %	11.4%	10.37%	12.61%	12.69%	14.57%	16.33%	17.3%
Operating Income Growth %	-	-21.07%	51.5%	7.46%	22.82%	10.71%	9.91%
EBITDA	332.68M	276.83M	380.81M	394.17M	473.87M	514.05M	575.8M
EBITDA Margin %	14.81%	14.2%	15.68%	15.2%	17.08%	18.76%	20.26%
EBITDA Growth %	-	-16.79%	37.56%	3.51%	20.22%	8.48%	12.01%
D&A (Non-Cash Add-back)	76.6M	74.7M	74.6M	65.1M	69.7M	66.6M	84M
EBIT	278.16M	224.55M	330.23M	370.3M	439.67M	464.81M	491.8M
Net Interest Income	-997K	3.71M	1.67M	-37.95M	-85.07M	-64.89M	-79.3M
Interest Income	997K	3.71M	1.67M	0	0	0	0
Interest Expense	0	0	0	37.95M	85.07M	64.89M	79.3M
Other Income/Expense	-34.61M	3.71M	12.87M	-28.81M	-85.07M	-77.05M	-163.54M
Pretax Income	221.47M▲ 0%	205.84M▼ 7.1%	319.09M▲ 55.0%	300.25M▼ 5.9%	319.09M▲ 6.3%	370.4M▲ 16.1%	328.26M▼ 11.4%
Pretax Margin %	9.86%	10.56%	13.14%	11.58%	11.5%	13.51%	11.55%
Income Tax	44.74M	45.97M	80.41M	69.17M	95.73M	77.35M	69.16M
Effective Tax Rate %	20.2%	22.33%	25.2%	23.04%	30%	20.88%	21.07%
Net Income	172.91M▲ 0%	157.41M▼ 9.0%	235.11M▲ 49.4%	223.75M▼ 4.8%	205.28M▼ 8.3%	264.84M▲ 29.0%	226.77M▼ 14.4%
Net Margin %	7.7%	8.07%	9.68%	8.63%	7.4%	9.66%	7.98%
Net Income Growth %	-	-8.96%	49.36%	-4.83%	-8.25%	29.01%	-14.38%
Net Income (Continuing)	176.73M	159.87M	238.68M	231.08M	223.37M	293.06M	259.1M
Discontinued Operations	0	0	0	-3.07M	-12.34M	-22.31M	-25.87M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M	45.49M
EPS (Diluted)	2.88▲ 0%	2.62▼ 9.0%	3.92▲ 49.6%	3.72▼ 5.1%	3.36▼ 9.7%	4.31▲ 28.3%	3.72▼ 13.7%
EPS Growth %	-	-9.03%	49.62%	-5.1%	-9.68%	28.27%	-13.69%
EPS (Basic)	2.88	2.62	3.92	3.73	3.38	4.36	3.72
Diluted Shares Outstanding	60M	60.03M	60.03M	60.15M	60.66M	61.1M	60.94M
Basic Shares Outstanding	60M	60.03M	60.03M	60.05M	60.23M	60.43M	60.94M
Dividend Payout Ratio	-	-	-	2.71%	6.5%	6.42%	9.66%

ESAB Balance Sheet

ESAB Corporation (ESAB) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Current Assets	933.9M	804.95M	964.07M	988.67M	997.72M	1.15B	1.26B
Cash & Short-Term Investments	104.83M	49.21M	41.21M	72.02M	102M	249.36M	185.86M
Cash Only	104.83M	49.21M	41.21M	72.02M	102M	249.36M	185.86M
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	364.15M	329.56M	383.5M	374.33M	385.2M	370.32M	451.3M
Days Sales Outstanding	59.15	61.69	57.65	52.68	50.67	49.32	57.95
Inventory	349.47M	313.39M	420.06M	416.83M	392.86M	403.71M	481.76M
Days Inventory Outstanding	87.94	90.24	96.42	89.08	81.52	86.51	95.97
Other Current Assets	115.44M	63.51M	67.36M	68.85M	55.89M	69.33M	76.88M
Total Non-Current Assets	2.56B	2.58B	2.5B	2.77B	2.83B	2.89B	3.5B
Property, Plant & Equipment	400.25M	395.87M	394.22M	376.26M	389.91M	388.21M	495.19M
Fixed Asset Turnover	5.61x	4.93x	6.16x	6.89x	7.12x	7.06x	5.74x
Goodwill	1.53B	1.55B	1.53B	1.53B	1.59B	1.65B	1.95B
Intangible Assets	582.47M	577.35M	521.43M	517.17M	499.54M	487.99M	673.01M
Long-Term Investments	0	0	0	14.34M	9.52M	17.8M	16.81M
Other Non-Current Assets	44.72M	54.43M	48.54M	342.15M	343.61M	339.6M	311.27M
Total Assets	3.49B▲ 0%	3.39B▼ 3.0%	3.46B▲ 2.2%	3.75B▲ 8.5%	3.83B▲ 2.0%	4.03B▲ 5.4%	4.77B▲ 18.1%
Asset Turnover	0.64x	0.58x	0.70x	0.69x	0.72x	0.68x	0.60x
Asset Growth %	-	-3.01%	2.23%	8.46%	1.99%	5.36%	18.15%
Total Current Liabilities	435.83M	460.84M	596.59M	601.58M	620.08M	632.05M	664.79M
Accounts Payable	235.29M	241.27M	345.48M	316.26M	306.59M	318.49M	360.39M
Days Payables Outstanding	59.21	69.47	79.3	67.59	63.62	68.25	71.79
Short-Term Debt	0	0	0	0	0	15M	24.49M
Deferred Revenue (Current)	0	21.6M	22.27M	25.9M	31.25M	26.39M	19.66M
Other Current Liabilities	200.53M	104.39M	74.87M	116.34M	182.45M	178.89M	131.88M
Current Ratio	2.14x	1.75x	1.62x	1.64x	1.61x	1.82x	1.90x
Quick Ratio	1.34x	1.07x	0.91x	0.95x	0.98x	1.18x	1.17x
Cash Conversion Cycle	87.88	82.45	74.77	74.17	68.57	67.58	82.13
Total Non-Current Liabilities	373.89M	380.22M	362.94M	1.76B	1.56B	1.59B	1.89B
Long-Term Debt	75.7M	0	0	1.22B	1.02B	1.06B	1.32B
Capital Lease Obligations	0	78.41M	88.78M	76.16M	76.61M	66.04M	88.14M
Deferred Tax Liabilities	0	0	0	0	0	0	158.78M
Other Non-Current Liabilities	298.19M	301.81M	274.17M	469.18M	466.22M	466.89M	322.18M
Total Liabilities	809.72M	841.06M	959.53M	2.37B	2.18B	2.23B	2.55B
Total Debt	75.7M	97.04M	109.24M	1.31B	1.12B	1.16B	1.43B
Net Debt	-29.13M	47.83M	68.03M	1.24B	1.02B	913.88M	1.25B
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x	0.65x
Debt / EBITDA	0.23x	0.35x	0.29x	3.33x	2.36x	2.26x	2.49x
Net Debt / EBITDA	-0.09x	0.17x	0.18x	3.15x	2.14x	1.78x	2.17x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x	6.20x
Total Equity	2.68B▲ 0%	2.54B▼ 5.1%	2.5B▼ 1.7%	1.39B▼ 44.5%	1.65B▲ 18.7%	1.81B▲ 9.7%	2.21B▲ 22.3%
Equity Growth %	-	-5.09%	-1.69%	-44.5%	18.67%	9.75%	22.3%
Book Value per Share	44.69	42.39	41.67	23.08	27.16	29.59	36.29
Total Shareholders' Equity	2.64B	2.5B	2.46B	1.35B	1.61B	1.77B	2.17B
Common Stock	3.06B	2.9B	0	60K	60K	61K	61K
Retained Earnings	0	0	0	159.23M	350.56M	597.18M	800.81M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	-423.53M	-396.2M	-460.89M	-674.99M	-624.27M	-729.57M	-539.72M
Minority Interest	46.06M	42.14M	40.99M	38.25M	40.26M	39.24M	45.49M

ESAB Cash Flow Statement

ESAB Corporation (ESAB) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	249.83M	309.18M	250.74M	214.36M	330.49M	355.4M	260.57M
Operating CF Margin %	11.12%	15.85%	10.33%	8.27%	11.91%	12.97%	9.17%
Operating CF Growth %	-	23.76%	-18.9%	-14.51%	54.18%	7.54%	-26.68%
Net Income	176.73M	159.87M	238.68M	228.01M	216.07M	270.75M	233.23M
Depreciation & Amortization	80.07M	76.64M	75.9M	65.98M	69.7M	66.79M	84.11M
Stock-Based Compensation	5.88M	6.44M	6.27M	12.96M	16.12M	19.78M	16.94M
Deferred Taxes	-22.62M	-14.03M	-8.64M	-20.2M	-25.41M	-2.6M	-35.66M
Other Non-Cash Items	32.95M	-3.37M	-11.65M	-6.92M	1.48M	15.04M	854K
Working Capital Changes	-23.17M	83.63M	-49.81M	-65.47M	52.53M	-14.36M	-38.9M
Change in Receivables	16.98M	27.73M	-67.85M	-8.14M	-6.01M	-4.85M	-40.01M
Change in Inventory	4.66M	34.84M	-117.35M	-10.07M	17.96M	-22.5M	-5.57M
Change in Payables	-37.82M	7.06M	114.5M	-28.79M	-19.82M	31.86M	6.69M
Cash from Investing	-37.46M	-34.57M	-35.27M	-184.42M	-62.24M	-205.7M	-479.88M
Capital Expenditures	-44.45M	-40.14M	-35.58M	-40.24M	-48.18M	-51.78M	-47.29M
CapEx % of Revenue	1.98%	2.06%	1.47%	1.55%	1.74%	1.89%	1.66%
Acquisitions	0	0	-4.88M	-149.03M	-18.66M	-149.86M	0
Investments	-	-	-	-	-	-	-
Other Investing	6.99M	5.57M	5.2M	4.85M	4.6M	-4.06M	-432.6M
Cash from Financing	-176.45M	-326.42M	-221.57M	7.56M	-219.72M	31.67M	113.7M
Debt Issued (Net)	-4.89M	-190K	673K	1.22B	-202.5M	65.5M	0
Equity Issued (Net)	0	0	0	0	0	0	0
Dividends Paid	0	0	0	-6.05M	-13.34M	-16.99M	-21.91M
Share Repurchases	0	0	0	0	0	0	0
Other Financing	-171.56M	-326.23M	-222.24M	-1.21B	-3.88M	-16.83M	135.61M
Net Change in Cash	33.87M▲ 0%	-55.63M▼ 264.3%	-8M▲ 85.6%	30.82M▲ 485.2%	29.98M▼ 2.7%	147.35M▲ 391.5%	-63.49M▼ 143.1%
Free Cash Flow	205.38M▲ 0%	269.04M▲ 31.0%	215.15M▼ 20.0%	174.12M▼ 19.1%	282.32M▲ 62.1%	303.62M▲ 7.5%	213.28M▼ 29.8%
FCF Margin %	9.14%	13.8%	8.86%	6.71%	10.17%	11.08%	7.5%
FCF Growth %	-	31%	-20.03%	-19.07%	62.14%	7.55%	-29.75%
FCF per Share	3.42	4.48	3.58	2.89	4.65	4.97	3.50
FCF Conversion (FCF/Net Income)	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x	1.15x
Interest Paid	0	0	0	34.68M	79.15M	62.28M	0
Taxes Paid	0	0	0	85.66M	132.9M	94.53M	0

ESAB Key Ratios

ESAB Corporation (ESAB) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.45%	6.02%	9.32%	11.5%	13.52%	15.33%	11.28%
Return on Invested Capital (ROIC)	7.24%	5.78%	8.9%	9.49%	11.45%	12.46%	11.93%
Gross Margin	35.44%	35%	34.51%	34.14%	36.61%	37.85%	35.54%
Net Margin	7.7%	8.07%	9.68%	8.63%	7.4%	9.66%	7.98%
Debt / Equity	0.03x	0.04x	0.04x	0.95x	0.68x	0.64x	0.65x
Interest Coverage	-	-	-	8.67x	4.75x	6.90x	6.20x
FCF Conversion	1.44x	1.96x	1.07x	0.96x	1.61x	1.34x	1.15x
Revenue Growth	-	-13.22%	24.51%	6.81%	6.99%	-1.22%	3.71%

ESAB SEC Filings & Documents

ESAB Corporation (ESAB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 2, 2026·SEC

Material company update

Mar 26, 2026·SEC

Material company update

Mar 12, 2026·SEC

10-K Annual Reports

FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 20, 2025·SEC

10-Q Quarterly Reports

FY 2025

Oct 29, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 1, 2025·SEC

ESAB Frequently Asked Questions

ESAB Corporation (ESAB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

ESAB Corporation (ESAB) reported $2.84B in revenue for fiscal year 2025. This represents a 27% increase from $2.25B in 2019.

ESAB Corporation (ESAB) grew revenue by 3.7% over the past year. Growth has been modest.

Yes, ESAB Corporation (ESAB) is profitable, generating $226.8M in net income for fiscal year 2025 (8.0% net margin).

Dividend & Returns

Yes, ESAB Corporation (ESAB) pays a dividend with a yield of 0.35%. This makes it attractive for income-focused investors.

ESAB Corporation (ESAB) has a return on equity (ROE) of 11.3%. This is reasonable for most industries.

ESAB Corporation (ESAB) generated $213.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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ESAB Corporation (ESAB) financial analysis — history, returns, DCA and operating performance tools

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Historical returns with dividends reinvested

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Dividend History

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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ESAB Corporation(ESAB)Earnings, Financials & Key Ratios

ESAB Price & Volume

ESAB Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

ESAB Recent Earnings

ESAB Peer Comparison

Compare ESAB vs Peers

vs ITW

vs LIN

Compare Top 5

ESAB Income Statement

ESAB Balance Sheet

ESAB Cash Flow Statement

ESAB Key Ratios

ESAB SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

ESAB Frequently Asked Questions

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